I hope the rumors about layoffs in April are inaccurate. I've heard that rumor before and now I see here in one of the posts someone wrote that they are preparing a list. Please tell me that's not true because getting laid off would be a nightmare for me right now.
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@6nnf, it's right here.
https://www.bnymellon.com/us/en/investor-relations/employee-code-of-conduct.html
The Code provides guidance on six key areas of focus that relate to many of the situations you may encounter working at our company: RESPECTING OTHERS; AVOIDING CONFLICTS; Conducting Business; Working with Governments; Protecting Company Assets and Supporting Our Communities.
I think that you may need to revisit the code of conduct. It is now geared to a “performance culture”. Not condoning it, but on a certain level you really do just have to admire these NYC Suits and their lawyers.
As always, our offer stands. Post your picture here and we can answer with certainty:
Hire / Fire / Displace / Groomed for Senior Management
Salary and Bonus- within 10%
Senior Management / Technology /Ops AA clerical grade
Lead HR / Displacement Specialist / Woke Spokesperson and/or animal
Tech worker / about to be displaced Tech Worker / lead tech PM Bi---hé / offshore coder
Senior Lead Technology manager / Technology admin for lead manager
We are remarkably accurate from a simple photo.
If BK had any common sense and/or followed our code of conduct that requires respecting others and voiding conflicts, they would make it known that the firings are coming. They would tell us when we'll be notified if we're affected and they would tell us what benefits they provide to navigate the change. But at least our HR "leader" is the correct color and gender.
As one who spent 15 years in that vulnerable situation I know and feel your pain. You are much like I was, caring for your job, he weight of a head of household on you. I can tell that you work your tail off.
I am much like you… no matter how high the stick is set I get over it. I’m sure that you know exactly what I mean… failure is not an option. I learned that with every layoff the folks who truly care and never mail it in survive. However we do the the work of three or more, which is life destroying. If I had it all over again I would have dialed it back and hopes for a layoff. Honestly everybody that I know who went through it was far happier afterwards. BONY is a sweatshop and displacement can actually be a great blessing.
One more thing… you will realize soon that that the far greater risk is to your health. Do not waste another minute worrying about a layoff… do proactively interview.
Good luck to you.
I get it, I do. I’m one of the lucky ones. Got out. Now I’m only waiting for the nightmares to stop. One day at a time.
The list of those to be terminated will include even those who exceeded on reviews.
The April layoff has been confirmed, and details from the email sent to managers about getting a list of people to be terminated has already been posted to this site
@2ufs: Linkedin updates are not a good measure: some folks I know (myself included) don't update profiles in the first 90 days in a new job, or are working on an interesting project to share with the world.
Heck, I even have friends that haven't updated their profiles since we worked together at BofA three years ago
@2uf, I ALWAYS met or exceeded expectations and my "position was eliminated" last year. Talked to one of my ex co-workers last week and they mentioned offshore people working on the projects I was planning for. So clearly, my position was shipped to India.
Honestly I’m afraid of being let go, too. I have a mortgage, kids, and have noticed many former colleagues still appear to be looking for work on LinkedIn. I’ve had good performance reviews for years, but all it takes is a reorg plus bad manager to reset all of that. I try not to stress about things I can’t control, but the fear is still there.
If you are lower or middle management (or maybe even all forms of management), making a lot of money, or have been at the bank a long time…worry.
It’s not the end of the world. I got let go over a year ago now. It was surprising and stressful but I quickly found a better job in short order.
For me it was a huge blessing for my family. I now have a better, more stable job, making significantly more than I was at BNY. While people here constantly complain about RTO, my new company is making WFH permanent.
Manhattan asset serving perhaps? Could make sense (and it's been a long time coming...) with the the broader dept mostly located in random suburban areas. There's really no need for NYC location if the group isn't interested in hiring from the available talent pool.
Put me in the list——-PLEASE 😎
Does anyone know who is being targeted in this layoff? Could it be people close to retirement or people who have been at the bank a long time?
An April action is definitely planned.
Don't worry before that there would be surge in Covid cases as we see now in Europe and Asia. Expect some announcement in next 2 weeks from CDC , Government health bodies before April. God will rescue you.
Mass layoffs occur 2-3x yearly. They love to displace the day after Thanksgiving so you are forced to return all of your holiday gift purchases.
They don't layoff people, they fire them and never bring them back Then they hire more inexperienced offshore people to replace them. That's why we essentially have the same number of employees we did 10 years ago.